LessWrong is presented in appealing chunks that leave you feeling like you've gained a lot of insight, but in the end I find I gained much less than I felt like I was gaining at the time. I've learned some nice catchy phrases for certain cognitive biases and failure modes, and I've been entertained for many hours, but in terms of practical results I can think of few college classes that provided less value than LessWrong.
It's easy to feel like you've thoroughly understood whatever you've just read, but then find yourself unable to apply it. (This is a particular hazard with math.) Reading LessWrong (or anything else without exercises) systematically will not help you there, whereas almost any college class will require you to apply your knowledge to something or other. Even the most useless humanities classes (cough intro philosophy cough) I've taken have at least helped keep me in practice stringing words together into a coherent argument.
One of the most useful aspects of Less Wrong is that you can read the Sequences and then start posting on the forum, engaging intelligent people in discussion and trying to apply what you learned to important topics. Far from Less Wrong being without exercises, this seems like one of the best kinds of exercises.
Compared to many of the people reading this, I've not participated extensively on LessWrong. In fact, I created my account only about a week ago. That said, I have read many LessWrong articles by contributors such as Eliezer, Jonah, Yvain, Gwern, and many others (if I missed you, my apologies). I wouldn't say it was a huge transformative experience. But I have probably learned a bit more from LessWrong than I learned sitting in on a class by Nobel Prize-winning economist Gary Becker on human capital (without formally registering for the class or doing the coursework). I've learned more of value from LessWrong than all the MIT OpenCourseWare lectures I've consumed. There are a few online experiences, such as reading EconLog, that have been more educational for me than LessWrong, but I can count these on the fingers of one hand.
Some of my friends have claimed that reading LessWrong systematically (and perhaps participating in the comments and attempting to write posts) would generate more value for an undergraduate than a typical core college class (with the possible exception of technical classes specific to the person's major or area of specialization). I'm curious about whether readers agree with this assessment. Do you feel, for instance, that LessWrong provided you with more valuable human capital than your introductory general chemistry sequence? What about comparing LessWrong with an undergraduate "intro to philosophy" class? Or an undergraduate intro class on the history of economic thought? At what percentile would you rank LessWrong relative to your college classes?
A second related question is whether there's a possibility of building a college course -- or college-like course, perhaps a MOOC -- specifically revolving around mastery of the content in LessWrong (perhaps starting with the Sequences). Would such a college course be possible to design in principle? How would such a college course compare with core requirements for undergraduates today?